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Geithner Tells NBC S&P Shows "Stunning Lack Of Knowledge About Basic US Fiscal Budget Math"

Tyler Durden's picture


Geithner was on NBC and when discussing the massively overdue S&P downgrade of US debt, shared the following pearl of wisdom: "S&P decision to cut U.S. credit rating shows stunning lack of knowledge about basic U.S. fiscal budget math." Listen to Tim: when it comes to stunning lacks of knowledge about things, Tim is the absolute expert, although in his case it is mostly the US tax code. He added that S&P made a "terrible judgment" and reached the wrong conclusion. He is right. The cut should have been at least several more notches. But there is time... Lastly, and most expectedly, he added that the S&P decision changed nothing on the safety of Treasuries and that China remains a strong investor in the US. Perhaps. We shall see after the TIC statement from October is released, which will detail August transactions. Alas, by then the world will have other issues to deal with.


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Sun, 08/07/2011 - 18:41 | 1534267's picture

Geithner submits his Letter of Retardation....

Sun, 08/07/2011 - 18:46 | 1534293 Ricky Bobby
Ricky Bobby's picture

Fucking hilarious!!

Sun, 08/07/2011 - 18:57 | 1534338 Troll Magnet
Troll Magnet's picture

All this bickering back and forth seems to me like a bunch of charades to deflect people's attention away from the fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week.  Instead of listening to what these criminals are bickering over, we need to demand an investigation into who knew what, when and how.  

Sun, 08/07/2011 - 19:08 | 1534383 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

If you are talking about all the Christian dudes that had come back from three weeks in the Grove last week, then duh!

Sun, 08/07/2011 - 19:24 | 1534470 Threeggg
Threeggg's picture

"fact that a bunch of insiders had inside information and got the hell out of dodge before the shit hit the fan last week"

Quote of "this" week !

Sun, 08/07/2011 - 21:27 | 1534796 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, which fox currently guarding the hen house do you propose to do the investigating?


Sun, 08/07/2011 - 19:49 | 1534573 Chuck Walla
Chuck Walla's picture

And believe it or don't, NBC is surprised their boy is a feckless and callow idiot. Now, how do they build him up again as the nation's savior? It worked before...

Sun, 08/07/2011 - 18:47 | 1534307 makeyoumiss
makeyoumiss's picture

One of the best comments I've read in a long time!

Sun, 08/07/2011 - 18:56 | 1534333 nmewn
nmewn's picture

Turbo Tax Timmah pontificates on just doesn't get any better...LOL!!!

Sun, 08/07/2011 - 18:59 | 1534348 MarketTruth
MarketTruth's picture

And remember that Chinese STUDENTS literally LAUGHED in Geithner's face when he went there spewing his BS about two years ago. Everyone with a brain knows Geithner's is a dolt and the 5% yearly growth the US Gov is judging their numbers on is a farce.

Sun, 08/07/2011 - 19:01 | 1534365 WestVillageIdiot
WestVillageIdiot's picture

Is it your opinion that those numbers are too low?  Do you think we will have growth over 5 percent for the foreseeable future?  Just messing with you.  He really is a douche. 

Sun, 08/07/2011 - 19:21 | 1534450 darkstar7646
darkstar7646's picture

The problem with that, MarketTruth, is that the Chinese models are even more farcical.

Sun, 08/07/2011 - 19:35 | 1534513 Uncle Remus
Uncle Remus's picture

Proof then that the Chinese know farcical when they see/hear it.

Sun, 08/07/2011 - 21:35 | 1534825 IQ 145
IQ 145's picture

Yes, that's a good thing to be remembering. I laughed out loud when I came to the part about China remains a strong buyer of treasuries. Less and less so all the time. What  do you call this? If the Band plays a little louder, maybe the bows won't sink any further into the Atlantic?

Sun, 08/07/2011 - 18:59 | 1534353 Cheesy Bastard
Cheesy Bastard's picture

Math hysteria.

Sun, 08/07/2011 - 19:08 | 1534387 VisualCSharp
VisualCSharp's picture

Mass hysteria with a lisp? LOL

Although I guess that would be 'math hythteria.'

Sun, 08/07/2011 - 19:00 | 1534359 WestVillageIdiot
WestVillageIdiot's picture

That's as funny as Obama becoming a golf pro. 

Sun, 08/07/2011 - 19:05 | 1534374 nmewn
nmewn's picture


Sun, 08/07/2011 - 19:36 | 1534521 Uncle Remus
Uncle Remus's picture

By virtue of being a politician he was already a "pro".

Sun, 08/07/2011 - 21:25 | 1534783 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Yes, like Bill Clinton the best wood in his bag is his "pencil"!


Sun, 08/07/2011 - 19:09 | 1534393 Id fight Gandhi
Id fight Gandhi's picture

No risk at all for a downgrade remember. This guys knows his shit.

Anyone else having issues with zh loading?

Sun, 08/07/2011 - 19:37 | 1534524 Uncle Remus
Uncle Remus's picture


Sun, 08/07/2011 - 19:45 | 1534555 Kayman
Kayman's picture

Anyone else having issues with zh loading?

yes. And something called Pressflow / Drupal telling me that I cannot connect to ZeroHedge.

Mon, 08/08/2011 - 00:17 | 1535596 James
James's picture


Sun, 08/07/2011 - 19:43 | 1534549 asteroids
asteroids's picture

Fucking weasel.

Sun, 08/07/2011 - 18:41 | 1534269 oogs66
oogs66's picture

his own stunning lack of knowledge! 

Sun, 08/07/2011 - 18:42 | 1534272 lunaticfringe
lunaticfringe's picture

OMG. I think I've just pissed myself laughing so hard!

Sun, 08/07/2011 - 19:05 | 1534376 LeBalance
LeBalance's picture

clean up crew to Aisle Wight!

Sun, 08/07/2011 - 19:08 | 1534389 Cheesy Bastard
Cheesy Bastard's picture

Lol.  To aisles of Greece?

Sun, 08/07/2011 - 18:42 | 1534273 glenlloyd
glenlloyd's picture

I am still amazed that such garbage can flow from the mouth of mr jeethner.

Sun, 08/07/2011 - 18:42 | 1534278 Bob Sacamano
Bob Sacamano's picture

I'm telling you -- BHO and his administration are beyond arrogant.  They know what is true and, worst yet, they know what is best for the people.  Central planning is the end game. 

Sun, 08/07/2011 - 21:23 | 1534774 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

No!  The end game is "eugenics"!


Sun, 08/07/2011 - 18:43 | 1534280 moregoldplease
moregoldplease's picture

This from the guy that couldn't figure out his tax software!!!!!!!!!!!

Sun, 08/07/2011 - 18:47 | 1534303 Mactheknife
Mactheknife's picture

No...this from the guy who SAID he couldn't figure out his tax software...Turbo Timmy.

Sun, 08/07/2011 - 19:48 | 1534568 The Limerick King
The Limerick King's picture

There once was a Klepto named Tim
Who everyone thought was quite dim
With cunning and stealth
He stole all their wealth
Now laughing the loudest is him.

Mon, 08/08/2011 - 00:22 | 1535622 James
James's picture

Imagine a "Weird"Al Yankovich redoing this song. It's even about Canabilism!\

Sun, 08/07/2011 - 18:44 | 1534282 Ramboy
Ramboy's picture

This site is too funny.  Don't you know your leaders reflect your people.

Sun, 08/07/2011 - 18:56 | 1534329 Quixotic_Not
Quixotic_Not's picture

I haven't voted since We the Sheeple failed to elect Perot in 1992!

Moreover, there's a HUGE section of the USoA that didn't CONSENT to the (D) & (R) Free Shit Empire™...

So from an A-M-E-R-I-C-A-N, not a POS DemoRAT -or- GOPher, I don't find the District of Criminals funny one fuckin' bit!

Sun, 08/07/2011 - 19:17 | 1534433 Abitdodgie
Abitdodgie's picture

Did you know if you rescind your voting rights you can then challenge paying income tax remember "taxation without representation" well it works the other way round.

Sun, 08/07/2011 - 19:30 | 1534492 Quixotic_Not
Quixotic_Not's picture

You first!

I keep paying my protection money to the FSA mob, as I'm outnumbered at least 1,000,000 -to- 1 :-(

Sun, 08/07/2011 - 19:22 | 1534458 darkstar7646
darkstar7646's picture

The only problem is that the Free Shit Empire/Army is the only reason people don't knock down your door and loot your ass dry.

Sun, 08/07/2011 - 21:22 | 1534764 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Ha, ha.  When the looting comes it certainly "will be" the Free Shit Empire/Army.  Have you not yet figured out that the Department of Homeland Security was established to be used against the American people!?  Knock, knock:)


Mon, 08/08/2011 - 01:40 | 1535965 darkstar7646
darkstar7646's picture

Then they might want to be prepared to move rather quickly. Social order is being lost on more than just individual circles these days. If it ever gets above a _small_ mob...

Sun, 08/07/2011 - 18:58 | 1534341 WestVillageIdiot
WestVillageIdiot's picture

First off, they are our representatives, not our "leaders".  Second off, the crowd on ZH is mostly not the run-of-mill brain dead American that is reflected by the clowns in office. 

Sun, 08/07/2011 - 19:17 | 1534429 Kayman
Kayman's picture

Come on now Ramboy, tell us what pristine leader you have in your pristine country.

Bet you don't have the guts to tell the truth.

If ya can't take a punch in the mouth then, read, don't comment on ZH.

Sun, 08/07/2011 - 21:25 | 1534778 geoffb
geoffb's picture

In case you weren't aware of it, our government was captured by bankers circa 1913. We the people, have had little  say in matters since then. No denial here, just harsh, painful truth.

Mon, 08/08/2011 - 00:24 | 1535632 James
James's picture

But our leaders do not reflect ZeroHedge.

Sun, 08/07/2011 - 18:45 | 1534285 Ramboy
Ramboy's picture


Sun, 08/07/2011 - 18:45 | 1534287 MrBinkeyWhat
MrBinkeyWhat's picture

My Winkie is bigger than your winkie. Poop.

Sun, 08/07/2011 - 18:45 | 1534288 crash_davis
crash_davis's picture

I am amazed that so many hard working god fearing americans will watch that interview and believe mr. jeethner.

Sun, 08/07/2011 - 19:03 | 1534372 WestVillageIdiot
WestVillageIdiot's picture

Boobicus Americanus is easily fooled. 

Sun, 08/07/2011 - 21:40 | 1534843 IQ 145
IQ 145's picture

The god fearing ones will beieve anything; argument proven as delivered.

Sun, 08/07/2011 - 18:45 | 1534289 Ramboy
Ramboy's picture


Sun, 08/07/2011 - 18:45 | 1534290 JLee2027
JLee2027's picture

What an arsehole. He's going to down in history next to Bozo the Clown. 

Sun, 08/07/2011 - 18:46 | 1534294 hamster wheel
hamster wheel's picture

It's a terminal condition.

Sun, 08/07/2011 - 18:46 | 1534301 Coldfire
Coldfire's picture

The plane would fly so much better without any instruments.

Sun, 08/07/2011 - 18:49 | 1534317 MsCreant
MsCreant's picture

Is this your way of saying he is a tool?

Sun, 08/07/2011 - 19:19 | 1534442 Kayman
Kayman's picture

Amazing.... someone believes the plane is still flying.

Sun, 08/07/2011 - 18:47 | 1534304 hedgeless_horseman
hedgeless_horseman's picture

As to his failure to pay the payroll taxes from 2001 to 2004 while he worked for the International Monetary Fund, Geithner said: "These were careless mistakes. They were avoidable mistakes."

"But they were unintentional," he said. "I should have been more careful."

Sun, 08/07/2011 - 19:18 | 1534437 Miss Expectations
Miss Expectations's picture

S&P should sprinkle those 4 quotes into its defense memos.

Sun, 08/07/2011 - 18:48 | 1534311 Ramboy
Ramboy's picture

Skanks in NY watch the housewives of NY and actually think they're nothing like that

Sun, 08/07/2011 - 19:06 | 1534379 WestVillageIdiot
WestVillageIdiot's picture


I see that every day. 

Sun, 08/07/2011 - 19:22 | 1534454 Kayman
Kayman's picture


You must be from out of the country.  If you've been to NY then you would know skank and housewife are one and the same.

Sun, 08/07/2011 - 19:41 | 1534542 Uncle Remus
Uncle Remus's picture

Life denying art imitating life.

Sun, 08/07/2011 - 18:48 | 1534313 Catullus
Catullus's picture

Thank God has only a basic understand of inflationary math. Tough to understand how you can rate something AA+ that pays back .50 to the dollar over 12 years.

Sun, 08/07/2011 - 21:43 | 1534859 IQ 145
IQ 145's picture

Duhh! plus two. what happened to the thumbs up button; is this the new new normal, or is this just my Chrome browser expressing it's "individuality".

Sun, 08/07/2011 - 18:48 | 1534314 teolawki
teolawki's picture

Supa Timma!

Sun, 08/07/2011 - 18:48 | 1534316 Buzz Wired
Buzz Wired's picture

No fudge button on their calculator.

Sun, 08/07/2011 - 18:50 | 1534318 kaiserhoff
kaiserhoff's picture

Sounds like Timmy has a case of the vapors.  Oh, the trials and tribulations of the one-balled man!

Sun, 08/07/2011 - 18:55 | 1534330 doomandbloom
doomandbloom's picture

waiting for Banzai to rip him apart..yet again :)

Sun, 08/07/2011 - 18:56 | 1534332 bbq on whitehou...
bbq on whitehouse lawn's picture

You will let us know when the world ends right? Gold and silver gap 1or 2k and Es gap at least a 500.

Im waiting untill i see a headline: "The world has ended, thank you for playing."

I should'n joke it could be tomarrow. But untill the world ends im just a guy who jumped out a window and as i pass each floor i say ( so far so good).

Still im glad i found this site. Hopefully the finacial world will not end tomarrow.

If it does Walmart looks to see aome solid sales.

Sun, 08/07/2011 - 19:00 | 1534358 CrashisOptimistic
CrashisOptimistic's picture

WMT's same store sales are in freefall.  Google Howard Davidowitz.

Further, think about it, their core customers (low income) are the ones getting butchered.  How can they do well?

Sun, 08/07/2011 - 19:07 | 1534385 WestVillageIdiot
WestVillageIdiot's picture


Sun, 08/07/2011 - 19:23 | 1534465 darkstar7646
darkstar7646's picture

And a real question:

Does anyone actually believe that SNAP/Food Stamps/UI Benefits/SS last another two years in present form?

Sun, 08/07/2011 - 21:46 | 1534873 IQ 145
IQ 145's picture

See "Brookers" on youtube; "paste, I like to eat paste". 

Sun, 08/07/2011 - 19:24 | 1534469 Kayman
Kayman's picture

Wallymart-typical short term thinkers.  All the Chinese shit is coming to haunt them.

Sun, 08/07/2011 - 22:42 | 1535089 FeralSerf
FeralSerf's picture

But they're getting a lot of new low income core customers from the (ex)-middle class.  They're just shopping at Target for a month or two on their way down to the sewer.

Sun, 08/07/2011 - 19:02 | 1534366 Cheesy Bastard
Cheesy Bastard's picture

The headline will say "World has ended. Women and minotities hardest hit."

Sun, 08/07/2011 - 19:47 | 1534415 Pure Evil
Pure Evil's picture

Did you mean to say, "Women and Mini-titties hardest hit"?

Sun, 08/07/2011 - 18:57 | 1534336 css1971
css1971's picture

Wow... And he's in charge of the US government's money. It pretty much explains everything.


Sun, 08/07/2011 - 18:57 | 1534337 keepmydollar
keepmydollar's picture

What an idiot. He can say this because now QE 3 begins on Monday. Ben's printer has gone thru multiple toner cartridges today as he is going to try and absorb all the sales orders tomorrow.

What is even worse is the GSE's debt got a downgrade from this also. My be is they try to protect Treasuries and the GSE's get crushed.

Sun, 08/07/2011 - 19:24 | 1534471 darkstar7646
darkstar7646's picture

Sold to him; he might be the only bidder come tomorrow morning.

Israel down 7%, Brazil down 6% today.

If this continues, we probably circuit-breaker at the open, and then ALL bets are off.

Sun, 08/07/2011 - 18:57 | 1534340 slaughterer
slaughterer's picture

Timmy is right.  Be a patriot.  Stand by him.  Defend your country from the S&P.  

Sun, 08/07/2011 - 19:08 | 1534390 WestVillageIdiot
WestVillageIdiot's picture

We're too busy pulling a train on your sister.

Sun, 08/07/2011 - 19:20 | 1534447 JohnG
JohnG's picture


Sun, 08/07/2011 - 19:23 | 1534464 WestVillageIdiot
WestVillageIdiot's picture

That d-bag has been trolling all day.

Sun, 08/07/2011 - 18:58 | 1534343 slewie the pi-rat
slewie the pi-rat's picture

timmah is tremendously full of shit and lying thru his bankster teeth.  of course.

Sun, 08/07/2011 - 18:58 | 1534344 tmosley
tmosley's picture

Yeah, it didn't change anything.  US debt is still junk, or at best-near junk.

But fuck it, I'm happy the world isn't (yet) ending, as that gives more time to accumulate silver, and for my industrial panic scenario to play out.  To be honest, I was damn scared today, and seeing things NOT blow up in an unprecedented manner makes me quite happy.

Sun, 08/07/2011 - 21:14 | 1534729 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture




Sun, 08/07/2011 - 18:58 | 1534346 Astute Investor
Astute Investor's picture

Okay Timmay, then show us in explicit written detail the inaccuracies (assumptions, arithmetic, etc.) in S&P's analysis.  It can't being anymore egregious than the assumptions supporting YOUR budget forecast - above trend GDP growth, below trend inflation, below trend FF rates.  Geithner probably thought S&P should have sent him the report for his approval in advance just like all of the equity analysts did in go-go days pre-Sarbanes-Oxley.

Sun, 08/07/2011 - 18:59 | 1534350 JW n FL
JW n FL's picture

Should The Government Stop Dumping Money Into A Giant Hole?


The Money Hole is an American Tradition!

Sun, 08/07/2011 - 19:25 | 1534473 darkstar7646
darkstar7646's picture

One could say the same thing about the Free Shit Army, too.  (Of which most would consider me a member...)

Sun, 08/07/2011 - 18:59 | 1534354 Quintus
Quintus's picture

Timmy - the little sheep with a lot to learn

Courtesy of Childrens BBC

Sun, 08/07/2011 - 19:04 | 1534357 Cult_of_Reason
Cult_of_Reason's picture

Geithner has somewhat a valid argument vs. S&P (btw, a very corrupt outfit)

S&P downgrades USA, but countries like UK (debt to GDP ratio higher than US) and France (long not treated as AAA by the markets) still have AAA.

Sun, 08/07/2011 - 19:00 | 1534360 Kayman
Kayman's picture

No one made a mistake in the Math ?  It is all pretend bullshit anyway ! Bullshit plus Bullshit equals Bullshit.

Goldman's man Timmy and their bought-and-paid-for puppet Obie have the requisite for the job; unabashed and unmitigated gall.

Sun, 08/07/2011 - 19:01 | 1534362 Mongo
Mongo's picture

Charles Darwin was wrong

Sun, 08/07/2011 - 19:48 | 1534566 Uncle Remus
Uncle Remus's picture

No, he was right. The economic and political clusterfuck and the debt-that-can-never-be-repaid is ongoing cost of circumvention.

Sun, 08/07/2011 - 21:51 | 1534897 IQ 145
IQ 145's picture

Ding Ding. Give that man a kewpie doll!

Sun, 08/07/2011 - 19:04 | 1534371 Midwest Prepper
Midwest Prepper's picture

The sad thing is that the Sheeple don't know and they don't WANT to know what's going on...  That allows this administration (and others) to drive our country off the cliff.

Sun, 08/07/2011 - 21:52 | 1534905 IQ 145
IQ 145's picture

I like to call it the "Thelma and Louise method of government financiing".

Sun, 08/07/2011 - 19:08 | 1534391 Fix It Again Timmy
Fix It Again Timmy's picture

It really is quite simple, the situation we are in, follow the logic....


Sun, 08/07/2011 - 19:11 | 1534398 Quixotic_Not
Quixotic_Not's picture

Once the midair portion of this phase is over, the sheeple will be in for a rude awakening  ;-)

Got schadenfreude?

Sun, 08/07/2011 - 19:48 | 1534565 viahj
viahj's picture

Got schadenfreude?

No, not really.  It is a small man that takes pleasure in watching his fellow common man fall under the hand of the fascists and TBTF.  I've tried to awaken the people.  

Sun, 08/07/2011 - 21:03 | 1534669 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture




Sun, 08/07/2011 - 21:53 | 1534914 IQ 145
IQ 145's picture

"Are we having fun yet"?

Sun, 08/07/2011 - 19:13 | 1534406 mrmeland
mrmeland's picture

Did anyone see Austan Goolsbee's face when Alan Greenspan was asked on  Meet the Press by David Gregory if US treasuries were safe to buy and he answered, "Very much so. This is not an issue of credit rating, the United States can pay any debt it has because we can always print money to do that. So, there is zero probability of default." ?... Sunday morning entertainment at its finest.

Sun, 08/07/2011 - 21:49 | 1534637 gall batter
gall batter's picture

Just read an article about Greenspan's appearance on "Meet the Press".  The big G said the downgrade has caused the US to have a self esteem problem. 

Sun, 08/07/2011 - 21:54 | 1534922 IQ 145
IQ 145's picture

LOL! OMG; that's a bit much.

Sun, 08/07/2011 - 21:01 | 1534661 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Alan Greenspan and Bill Clinton.  The concept of "shame" has certainly disappeared!


Sun, 08/07/2011 - 19:13 | 1534411 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Geithner also thought Bernanke would have a strong dollar policy, when Bernanke and all ivy league economists have taught for decades that lowering a currencie will solve all of the given financial problems.  Dudes just plain clueless, or he is so inside the system that he don't mind lying. 

Sun, 08/07/2011 - 20:59 | 1534647 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Jeepers people.  These people know exactly what they are doing.  They are just following orders.  Where's Nurmeberg when we need it?!


Sun, 08/07/2011 - 19:15 | 1534416 bbq on whitehou...
bbq on whitehouse lawn's picture

I know a lot of people on ZH give Obama grief and they should because; Obama knows better.

I mean really we have all heard his speaches and him debate. This guy knows better then this.

Or maybe we lack the data the knolege Obama has?  Is this truely the best option on the table? Is there no other way?

We all now have to watch and wait to see what others great powers do, when doing will undo all that has been done.

Sun, 08/07/2011 - 19:36 | 1534516 Kayman
Kayman's picture

This guy knows better then this.

No way !  Goldman's man Paulson figured him out for the stooge that he is.  How many Goldman partner's contributed to his campaign.  

A few million investment for a $20 billion return.  

Sorry pal.  Barry is no leader.

Sun, 08/07/2011 - 19:53 | 1534578 notadouche
notadouche's picture

Obama is a Chicago politician.  What he knows is how to lie, cheat and steal to get whatever he wants then slither away from it like the snake he is.  He would also acquit himself quite well in the Louisiana politics.  Don't forget the Daiey's run Chicago.  Does anyone remember what Daley did during the 68 democratic convention?  Yet they continue to vote Daley prodgenies.  He must must be very scholarly on the ways of Tammany Hall.  So yes he is smart and clever the way the great theifs of the day were smart.   He has just decided to use his intelligence for evil instead of good.  For self service and political gain instead of what's right for the American people.  In fact I guess all that makes him is just another politician.    Can't think of a greater insult than that these days.  Honor among theives can now be replaced with Honor among politicians.  It's the same thing.  Unfortunately there is no honor for the taxpaying American. 

Sun, 08/07/2011 - 21:58 | 1534936 IQ 145
IQ 145's picture

Dude; there's a video on youtube of Obummer giving a public speech and saying that he just visited 57 American States. Go there, look it up, right now. You're dreaming, my friend.

Sun, 08/07/2011 - 19:15 | 1534422 mailll
mailll's picture

S&P  needs to start using fuzzy math.  That's what we use.

Sun, 08/07/2011 - 19:19 | 1534444 Silverhog
Silverhog's picture

Keep your foot in the door of Mt Cheyenne Timmy. You will need it.

Sun, 08/07/2011 - 19:20 | 1534446 darkstar7646
darkstar7646's picture

He's right, in his own sick way.

The entire basis that we have 315,000,000 in our population depends on the fact that we can extend and pretend and defy mathematics.

For example, if we were not to have grown (in real dollars) since 1980, we've effectively overextended ourselves by the amount of population from 1980 to now -- and that's pushing, what, 60-80 million?

"Basic US Fiscal Budget Math" is a scam, in real mathematical terms -- and if we are EVER forced to account for that, the country ends, and probably within a few days to a couple of weeks.

Sun, 08/07/2011 - 19:22 | 1534459 f16hoser
f16hoser's picture

Big fucking words from a Goldman Sachs butt-boy!

Sun, 08/07/2011 - 19:22 | 1534460 f16hoser
f16hoser's picture

Big fucking words from a Goldman Sachs butt-boy!

Sun, 08/07/2011 - 19:39 | 1534531 Kayman
Kayman's picture

Merry Christmas from Stalingrad !

Sun, 08/07/2011 - 19:23 | 1534468 r101958
r101958's picture

These guys are losing more credibility each time. You know what they say 'there is no honor among thieves'.

Sun, 08/07/2011 - 20:50 | 1534612 Ms. Erable
Ms. Erable's picture

Perhaps it's just your perception of them that's changing. IMO, they had no credibility from day one.

Sun, 08/07/2011 - 19:32 | 1534499 erg
erg's picture

Why doesn't this guy draw in some eyebrows already. Parrots yank out their own feathers when highly stressed.

Sun, 08/07/2011 - 19:33 | 1534504 markar
markar's picture

Timmay--if his lips are moving......well, you know.

Sun, 08/07/2011 - 19:36 | 1534518 OneEyedJack
OneEyedJack's picture

Every time I see Timmy, it reminds me of the movie Ghost.

I can't help but see him as the scumbag banker. If I could post pictures I would show  Tony Goldwyn and him side by side.

A little OT but Hey it fits


Sun, 08/07/2011 - 22:52 | 1535125 FeralSerf
FeralSerf's picture

He reminds me of Benjamin "Bugsy" Siegel, his Kosher Nostra bro.

Sun, 08/07/2011 - 19:40 | 1534539 Joebloinvestor
Joebloinvestor's picture

What is he gonna say when Moodys and Fitch catch up?

Sun, 08/07/2011 - 22:03 | 1534951 IQ 145
IQ 145's picture

He's gonna bang his fists on the table and scream till he turns red in the face and yell, "I didn't do it, I didn't do it, my little brother did it".

Sun, 08/07/2011 - 19:44 | 1534551 notadouche
notadouche's picture

If any CFO were caught keeping their corporate books in the manner that the US does and utilizes US government math they would be spending the rest of their lives living next to Madoff.  The US and Geithner have a stunning lack of basic knowledge in honest and realistic budgeting that goes on in corporate America every day.  

Sun, 08/07/2011 - 19:45 | 1534553 Shatmadim
Shatmadim's picture

Is this the turbotax support forum? Um, I'm having trouble getting a trillion into the calculator. Can someone help?

Sun, 08/07/2011 - 19:58 | 1534597 bobert
bobert's picture

I'm a senior citizen who has seen and been involved in a lot of politics in my life.

I have never, never seen any national political figure act as  ignorant as our current president and his secretary of the treasury.

I'm an independent voter and have no ax to grind with any particular political point of view.

The president, a democrat, and the secretary, a republican have no leadership skills. Their ignorance is scary.The vacum of leadership at this time is alarming! Who ever it was that put these muppets into office is no friend of the US. If our president was a leader he would have gathered his department heads together a year ago with this admonition: "Cut your expenditures 5% from fiscal year 2010/2011 effective 7/1/2011. I with the help of the CBO will monitor you monthly. Whomever is not on target will be fired and replaced with someone who understands the gravity of the situation we are in. No exceptions!!! (i.e.the pentegon)!" Instead he played some sort of freshman political ping pong ball of blame trying to get congress to come up with a solution. Pathetic! I'm not happy with this hapless chap at the helm of our country and just as unhappy with the George W Bush carryover whose in charge of the treasury. This could have been handled administratively rather than handing it over to a deadlocked congress.

I'm proud of S&P's. It appears they learned from their failure to downgrade the sub primes as would have been appropriate.They warned that the budget talks needed to come up with $4 trillion in cuts or they would downgrade. Congress and the president didn't listen and came up with a lame attempt at reducing expenditures only $1.5 trillion prox. in expenditures. Hence the downgrade.

Thank you S&P for bringing a sense of reality back into our world. Moody's, Fitch, got the cojones???

Sun, 08/07/2011 - 20:54 | 1534630 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Dear Senior Citizen:  This isn't the 1970s.  The world is now run by an international banking and corporate fascist cartel.  Obama and 95% of congress are bought and paid for.  This collapse is by design.  Time to wake up before the Obamacare death panels get you!

Tuco Benedicto Pacifico Juan Maria Ramirez

Sun, 08/07/2011 - 21:59 | 1534940 bobert
bobert's picture

Thanks for your kind concern.

Being senior hopefully hasn't dulled my senses as you seem to insinuate.

I'll repeat we need leadership!

The sad irony of our current situation is that a solution exists, however the likelihood of it being implemented ( a reduction in government expenditures) is small.


Sun, 08/07/2011 - 22:05 | 1534960 IQ 145
IQ 145's picture

You're goddam right. we're scrapping the bottom of bozo barrel.

Sun, 08/07/2011 - 20:03 | 1534603 Forgiven
Forgiven's picture

<-- This from the guy who can't do his taxes!

<-- Transitory

Sun, 08/07/2011 - 20:12 | 1534607 Winston Smith 2009
Winston Smith 2009's picture

Yes, Geither is the math wizard.

When discussing liabilities, 1 trillion + 1 trillion = 0

When discussing assets, 0 + 0 = 2 trillion

The fact that this asshat wasn't Peter Principled down to a fast food job many years ago is proof that our system is completely broken.

Sun, 08/07/2011 - 22:10 | 1534974 IQ 145
IQ 145's picture

The thing is the blogosphere actually exists now; and it sometimes contacts the MSM; just watch Timmy going to get shit on by the ton.

Sun, 08/07/2011 - 21:09 | 1534700 Dolar in a vortex
Dolar in a vortex's picture

Can we call him


since he helped earn the downgrade?

New name for Timmay needed.

Sun, 08/07/2011 - 21:32 | 1534805 Ident 7777 economy
Ident 7777 economy's picture


Hmmm ... there is one 'out' for all this, the discovery of a new energy source, like, chceap, easy cold fusion or ZPE.


THAT could save us/the world from ruin ...



Sun, 08/07/2011 - 22:08 | 1534968 IQ 145
IQ 145's picture

Fuck the World; it's not having any problem; who's going to save us from these fucking Federal Political figures.

Sun, 08/07/2011 - 22:13 | 1534983 wisefool
wisefool's picture

<sarc>Well. I actually know the new energy source. And I hacked the tax code in a way that makes timmay puff twice into his hawking/einstienian wheel chair.</sarc>

<non sarc> End the friggin tax code before it has 66,666 pages. If you are really good at your job, you should be proud of how much taxes you pay. </non sarc>

Elvis Bragged about how much taxes he paid. Keynes not so much



Sun, 08/07/2011 - 22:16 | 1534995's picture

He is exactly the sock puppet the cartel had in mind for the position.

Sun, 08/07/2011 - 22:16 | 1534996's picture

He is exactly the sock puppet the cartel had in mind for the position.

Sun, 08/07/2011 - 22:21 | 1535017 curious1
curious1's picture

And our beloved old man Buffet also distributed his wisdom regarding how wrong S&P is in this decision.

Tyler, can you pls create a post with S&P email where we can send kudos to the sovereign rating team for having balls and not being enuchs like Moody's (buffet own) and Fitch.

Sun, 08/07/2011 - 23:00 | 1535154 ZippyDooDah
ZippyDooDah's picture

Little Timmy to Teacher:  "The dog ate my homework."


Teacher to Little Timmy:  "You sir, are a lying cunt."

Sun, 08/07/2011 - 23:07 | 1535177 Buck Johnson
Buck Johnson's picture

CNBC had a two hour special on tonight that was essentially thumping on S&P.  If it wasn't a big deal as the govt. and CNBC have said, why in gods name did they care in the first place and also have all these major meetings in the US and in the EU about what to do or not to do.

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